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SEATTLE MUNICIPAL NEWS
VOL. 2. NO 18.
SEATTLE, SATURDAY, AUG. 31, 1912.
Published Weekly*'-0^**1'
5c a Copy
The Only Way to Have Common Knowledge is to Have Common Information
FULL TERMS OF LEASE
OF HARBOR ISLAND
After several months of negotiation
between the Port Commission, the Pacific Terminal Company and the Pacific Buildings Company, regarding
the leasing of the Harbor Island property for the construction of terminal
facilities, the parties have come to an
agreement, and on Friday, August 23,
the proposition was consummated by
the vote of the Port Commission authorizing the president and secretary
tG sign the lease, the terms of which
follow. Upon the refusal of Secretary
Robert Bridges to act as a party to
such lease, which did not give full control to the Port Commission, he was
removed and Charles E. Remsberg
elected to act as secretary, and to sign
the same, together with H. M. Chittenden, on behalf of the Port. The
lease has been sent to New York for
the signatures of the president and
secretary of each of the two lessees,
the Pacific Terminal Company and the
Pacific Buildings Company.
LEASE
This indenture, entered into in duplicate this 23rd day of August, 1912, by
and between the Port of Seattle, a municipal corporation created under the
laws of the state of Washington, hereinafter termed "The Lessor," acting
by its duly constituted Port Commission, and the Pacific Terminal Company, a corporation created under the
laws of the state of New York, hereinafter termed "The Lessee," and the
Pacific Buildings Company, a corporation created under the laws of the
state of New York, party of the third
part, witnesseth:
(1) That the lessor does hereby
lease and let to the lesee those certain
parcels of land now in course of acquisition by the lessor, described as
follows, to-wit: Block Four Hundred
Four (404) and Four Hundred Five
(405), Seattle Tide Lands, together
with the right of use of the harbor
area fronting on said Block Four Hundred Four (404), all situated in the
city of Seattle, King County, Washington (provided, however, that the
lessor may at any time prior to commencement of construction substitute
therefor a similar amount of property
on Harbor Island in the city of Seattle, mutually agreed to be equally well
adapted for the purposes hereinafter
set forth), together with those certain
harbor improvements and terminal facilities to be by the lessor hereafter
constructed thereon and upon the water front adjoining the same, in accordance with plans to be mutually
agreed upon by the lessor and lesee,
(said improvements to be known in
the aggregate as Unit No. 1))), as set
forth in the next two paragraphs two
2> and three (3).
J&) Any pier, with sheds, on the
rtherly end of said property, said
; ter to be approximately fourteen hundred (1400) feet in length and one hundred and fifty (150) feet in width; and .
a quay along the West Waterway
front, to extend outward from the
present bulkhead to the pier line, aB
PRESIDENT BENJAMIN I. WHEELER
Of the University of California
WILL ADDRESS THE LEAGUE FRIDAY NOON
At the Seattle Commercial Club Rooms
the same shall be established by the
government pursuant to the pending
application for re-establishment of the
same, it being understood that the
right to the use of the waterfront,
both on the waterway and harbor area,
opposite street ends, is not absolute in
the lessor but is subject to any rights
of the city of Seattle or the public
therein or thereto.
(3) Behind the pier, the following
structures, to-wit: a cold storage
warehouse, to be built of reinforced
concrete, containing approximately
120,000 square feet of floor space, reinforced concrete warehouse structures aggregating approximately 320,-
000 square feet of floor space; also the
following fixed equipment, to-wit: electric hoists, elevators, wiring, and other
appurtenances necessary to the operation of said pier, quay and cold storage and other warehouses; also the
following other improvements, to-wit:
the necessary railroad tracks, switches,
freight yards, and temporary roundhouse for the operation of the project;
it being understood, however, that the
lessee shall furnish and install all of
the moveable equipment; the above
named structures, improvements and
fixed and moveable equipment to be
built and installed as soon as practicable under existing circumstances.
The lessor also as soon as practicable
to provide the necessary connections
between the tracks and freight yards
on said leased premises and the existing main lines of railroads in said city
of Seattle.
(4) Said lessor also agrees to endeavor to obtain any franchise necessary for the operation of said railroad
and freight yard tracks and connections; it being understood, however,
that said franchise shall belong to and
be the property of the lessor, but that
during the term of said lessee said
lessee shall have the right to use said
tracks subject to the terms of said
franchise.
(5) The term of this lease shall be
thirty years, beginning at the date of
the completion of the structures, improvements and fixed equipment herein described as Unit No. 1 and the delivery of the same to the lessee for
operation hereunder and the obtaining
of the necessary franchise giving independent or common user connection
between said leased premises and the
Northern Pacific, the Oregon-Washington Railroad & Navigation and the Chicago, Milwaukee & Puget Sound Railroad lines. Completion as above provided for shall mean substantial completion of the foregoing described
structures, improvements and fixed
equipment and not necessarily absolute completion in non-essential details.
(6) The lessee shall pay as rent to
the lessor each year during the term
of this lease a sum equal to five and
one-half per cent (5%%) per annum
(two and 'one-fourth per cent being
payable semi-annually, and one per
cent annually) upon the actual expenditures of the Port Commision upon or
in connection with the acquisition and
construction hereinbefore provided for
or any of their details before or during
the entire term of said lease, whether
such expenditures be from bond issues, general taxation, income, or revenue of said port district; it being understood that said amount shall include all expenses in connection with
any condemnation proceedings for the
acquiring of said land and all expenses in the sale of bonds to be issued to provide money for said purposes, but shall not include the cost of
installing the ferry hereinafter provided for. The first payment of rent
shall become due and payable thirty
days in advance of the due date of the
first interest payment to fall due after
the term of this lease commences
upon the bonds issued by the lessor
for the project, and shall be in proper
proportion to the portion, to intervene,
of the current six months period between the commencement of the term
and the next interest date, and thereafter the payments of rent shall be at
the expiration of each six months'
period thereafter, the first of such subsequent payments to be at the twt
and one-fourth per cent rate, or the
three and one-fourth per cent rate to
coincide with the current interest or
interest and principal payment as the
case may be, and thereafter alternating in the same manner as such payments alternate.
The Lessor's Covenants
(7) To acquire the lands and rights
hereinbefore described and to construct the improvements above described, with due diligence, and to
tender possession thereof to the lessee
when so acquired and improved.
(8) At and from the date of the
completion of Unit No. 1, the lessor
will maintain, without cost to the lessee, an efficient and sufficient ferry
service between Harbor Island and a
point or points on the city water front,
and will operate the same during the
term of this lease at reasonable rates;
the lessee, however, to pay the same
rates for any use it makes of said
ferry as may be charged to the public
generally. If a subway or viaduct adequate for the traffic should at any time
be constructed or be available, the lessor's obligation to operate the ferry
shall cease.
(9) The lessor will cooperate with
the lessee to induce the city of Seattle
to build a subway or viaduct between
the main city water front and Harbor
Island, whenever the Commission of
the lessor shall deem that the public
interest and the interest of the lessee
requires the same.
(10) The lessor will use its best
efforts to get Sixteenth Avenue Southwest adjoining said blocks 404 and 405
and Railroad Avenue from the West
Waterway to the East Waterway
paved by the city of Seattle.
(11) The lessor will use its best
endeavors to obtain the narrowing of
Railroad Avenue and Sixteenth Avenue Southwest to the extent which
may hereafter seem advisable.
(12) Whenever the lessee shall
have produced evidence satisfactory to
the lessor of the necessity for additional structures for the first unit to
those specified in paragraphs two (2)
and three (3) herein, but not encroaching upon the land intended for
the second unit, it will use every practicable effort to provide them without
unnecessary delay.
(13) Whenever the lessee shall
have produced evidence satisfactory to
the lessor that its business has outgrown or will soon outgrow the capacity of the first unit, the lessor will
take steps to provide with the least
practicable delay an additional unit
upon the land described in paragraph
one (1).
(14) Whenever the lessee shall
have produced evidence satisfactory to
the lessor that the growth of the lessee's business exceeds or will soon
exceed the capacity of Units One and
Two, the lessor shall proceed to provide additional units acquiring additional land therefor as necessary.
(15) The additional units provided
for in Paragraphs Twelve (12), Thirteen (13) and Fourteen (14) are not
intended to include a quay or roundhouse. As a unit or units are added,
or added to under the provisions of
either paragraphs Twelve (12), Thirteen (13) or Fourteen (14), each unit
as added, or each addition, shall come
automatically under this lease for the
remainder of the term at an additional .
rental computed upon the same five
and one-half per cent per annum basis
set forth in paragraph six (6); provided, however, that nothing in this or
the next preceding three paragraphs
shall be construed to create a debt
against the lessor, it being the intent
to prevent any financial obligation being created or at any time taken into
consideration as affecting in any way
the debt limitation under which the
lessor is or may be operating; and provided further that the obligations of
the lessor under this and said three
preceding paragraphs are at all times
subject to and conditioned upon the
lessor obtaining the necessary authorization by vote of the people.
(16) Nothing in the four next preceding paragraphs shall be construed
to prevent the lessor from permitting
the lessee to erect a portion or all of
the structures provided for therein but
the terms and conditions of such authorization are left for future determination.
The Lessee's Covenants
(17) That it will accept the poses-
sion of the premises described in paragraph one (1) when the same shall
have been acquired by the lessor ana
the structures theeron, improvements
and fixed equipment described in paragraphs two (2) and three (3) shall
have been constructed, franchise referred to in paragraph five (5) obtained, and possession tendered by the
lessor, and the ferry installed and
service thereof inaugurated, and will
F= _-k_TIA/_FGri-|t__l=llyll=n_i-ir _r^F= i\j_r*~ri_r f= _T*IVI _OA_r_.l

SEATTLE MUNICIPAL NEWS
VOL. 2. NO 18.
SEATTLE, SATURDAY, AUG. 31, 1912.
Published Weekly*'-0^**1'
5c a Copy
The Only Way to Have Common Knowledge is to Have Common Information
FULL TERMS OF LEASE
OF HARBOR ISLAND
After several months of negotiation
between the Port Commission, the Pacific Terminal Company and the Pacific Buildings Company, regarding
the leasing of the Harbor Island property for the construction of terminal
facilities, the parties have come to an
agreement, and on Friday, August 23,
the proposition was consummated by
the vote of the Port Commission authorizing the president and secretary
tG sign the lease, the terms of which
follow. Upon the refusal of Secretary
Robert Bridges to act as a party to
such lease, which did not give full control to the Port Commission, he was
removed and Charles E. Remsberg
elected to act as secretary, and to sign
the same, together with H. M. Chittenden, on behalf of the Port. The
lease has been sent to New York for
the signatures of the president and
secretary of each of the two lessees,
the Pacific Terminal Company and the
Pacific Buildings Company.
LEASE
This indenture, entered into in duplicate this 23rd day of August, 1912, by
and between the Port of Seattle, a municipal corporation created under the
laws of the state of Washington, hereinafter termed "The Lessor," acting
by its duly constituted Port Commission, and the Pacific Terminal Company, a corporation created under the
laws of the state of New York, hereinafter termed "The Lessee," and the
Pacific Buildings Company, a corporation created under the laws of the
state of New York, party of the third
part, witnesseth:
(1) That the lessor does hereby
lease and let to the lesee those certain
parcels of land now in course of acquisition by the lessor, described as
follows, to-wit: Block Four Hundred
Four (404) and Four Hundred Five
(405), Seattle Tide Lands, together
with the right of use of the harbor
area fronting on said Block Four Hundred Four (404), all situated in the
city of Seattle, King County, Washington (provided, however, that the
lessor may at any time prior to commencement of construction substitute
therefor a similar amount of property
on Harbor Island in the city of Seattle, mutually agreed to be equally well
adapted for the purposes hereinafter
set forth), together with those certain
harbor improvements and terminal facilities to be by the lessor hereafter
constructed thereon and upon the water front adjoining the same, in accordance with plans to be mutually
agreed upon by the lessor and lesee,
(said improvements to be known in
the aggregate as Unit No. 1))), as set
forth in the next two paragraphs two
2> and three (3).
J&) Any pier, with sheds, on the
rtherly end of said property, said
; ter to be approximately fourteen hundred (1400) feet in length and one hundred and fifty (150) feet in width; and .
a quay along the West Waterway
front, to extend outward from the
present bulkhead to the pier line, aB
PRESIDENT BENJAMIN I. WHEELER
Of the University of California
WILL ADDRESS THE LEAGUE FRIDAY NOON
At the Seattle Commercial Club Rooms
the same shall be established by the
government pursuant to the pending
application for re-establishment of the
same, it being understood that the
right to the use of the waterfront,
both on the waterway and harbor area,
opposite street ends, is not absolute in
the lessor but is subject to any rights
of the city of Seattle or the public
therein or thereto.
(3) Behind the pier, the following
structures, to-wit: a cold storage
warehouse, to be built of reinforced
concrete, containing approximately
120,000 square feet of floor space, reinforced concrete warehouse structures aggregating approximately 320,-
000 square feet of floor space; also the
following fixed equipment, to-wit: electric hoists, elevators, wiring, and other
appurtenances necessary to the operation of said pier, quay and cold storage and other warehouses; also the
following other improvements, to-wit:
the necessary railroad tracks, switches,
freight yards, and temporary roundhouse for the operation of the project;
it being understood, however, that the
lessee shall furnish and install all of
the moveable equipment; the above
named structures, improvements and
fixed and moveable equipment to be
built and installed as soon as practicable under existing circumstances.
The lessor also as soon as practicable
to provide the necessary connections
between the tracks and freight yards
on said leased premises and the existing main lines of railroads in said city
of Seattle.
(4) Said lessor also agrees to endeavor to obtain any franchise necessary for the operation of said railroad
and freight yard tracks and connections; it being understood, however,
that said franchise shall belong to and
be the property of the lessor, but that
during the term of said lessee said
lessee shall have the right to use said
tracks subject to the terms of said
franchise.
(5) The term of this lease shall be
thirty years, beginning at the date of
the completion of the structures, improvements and fixed equipment herein described as Unit No. 1 and the delivery of the same to the lessee for
operation hereunder and the obtaining
of the necessary franchise giving independent or common user connection
between said leased premises and the
Northern Pacific, the Oregon-Washington Railroad & Navigation and the Chicago, Milwaukee & Puget Sound Railroad lines. Completion as above provided for shall mean substantial completion of the foregoing described
structures, improvements and fixed
equipment and not necessarily absolute completion in non-essential details.
(6) The lessee shall pay as rent to
the lessor each year during the term
of this lease a sum equal to five and
one-half per cent (5%%) per annum
(two and 'one-fourth per cent being
payable semi-annually, and one per
cent annually) upon the actual expenditures of the Port Commision upon or
in connection with the acquisition and
construction hereinbefore provided for
or any of their details before or during
the entire term of said lease, whether
such expenditures be from bond issues, general taxation, income, or revenue of said port district; it being understood that said amount shall include all expenses in connection with
any condemnation proceedings for the
acquiring of said land and all expenses in the sale of bonds to be issued to provide money for said purposes, but shall not include the cost of
installing the ferry hereinafter provided for. The first payment of rent
shall become due and payable thirty
days in advance of the due date of the
first interest payment to fall due after
the term of this lease commences
upon the bonds issued by the lessor
for the project, and shall be in proper
proportion to the portion, to intervene,
of the current six months period between the commencement of the term
and the next interest date, and thereafter the payments of rent shall be at
the expiration of each six months'
period thereafter, the first of such subsequent payments to be at the twt
and one-fourth per cent rate, or the
three and one-fourth per cent rate to
coincide with the current interest or
interest and principal payment as the
case may be, and thereafter alternating in the same manner as such payments alternate.
The Lessor's Covenants
(7) To acquire the lands and rights
hereinbefore described and to construct the improvements above described, with due diligence, and to
tender possession thereof to the lessee
when so acquired and improved.
(8) At and from the date of the
completion of Unit No. 1, the lessor
will maintain, without cost to the lessee, an efficient and sufficient ferry
service between Harbor Island and a
point or points on the city water front,
and will operate the same during the
term of this lease at reasonable rates;
the lessee, however, to pay the same
rates for any use it makes of said
ferry as may be charged to the public
generally. If a subway or viaduct adequate for the traffic should at any time
be constructed or be available, the lessor's obligation to operate the ferry
shall cease.
(9) The lessor will cooperate with
the lessee to induce the city of Seattle
to build a subway or viaduct between
the main city water front and Harbor
Island, whenever the Commission of
the lessor shall deem that the public
interest and the interest of the lessee
requires the same.
(10) The lessor will use its best
efforts to get Sixteenth Avenue Southwest adjoining said blocks 404 and 405
and Railroad Avenue from the West
Waterway to the East Waterway
paved by the city of Seattle.
(11) The lessor will use its best
endeavors to obtain the narrowing of
Railroad Avenue and Sixteenth Avenue Southwest to the extent which
may hereafter seem advisable.
(12) Whenever the lessee shall
have produced evidence satisfactory to
the lessor of the necessity for additional structures for the first unit to
those specified in paragraphs two (2)
and three (3) herein, but not encroaching upon the land intended for
the second unit, it will use every practicable effort to provide them without
unnecessary delay.
(13) Whenever the lessee shall
have produced evidence satisfactory to
the lessor that its business has outgrown or will soon outgrow the capacity of the first unit, the lessor will
take steps to provide with the least
practicable delay an additional unit
upon the land described in paragraph
one (1).
(14) Whenever the lessee shall
have produced evidence satisfactory to
the lessor that the growth of the lessee's business exceeds or will soon
exceed the capacity of Units One and
Two, the lessor shall proceed to provide additional units acquiring additional land therefor as necessary.
(15) The additional units provided
for in Paragraphs Twelve (12), Thirteen (13) and Fourteen (14) are not
intended to include a quay or roundhouse. As a unit or units are added,
or added to under the provisions of
either paragraphs Twelve (12), Thirteen (13) or Fourteen (14), each unit
as added, or each addition, shall come
automatically under this lease for the
remainder of the term at an additional .
rental computed upon the same five
and one-half per cent per annum basis
set forth in paragraph six (6); provided, however, that nothing in this or
the next preceding three paragraphs
shall be construed to create a debt
against the lessor, it being the intent
to prevent any financial obligation being created or at any time taken into
consideration as affecting in any way
the debt limitation under which the
lessor is or may be operating; and provided further that the obligations of
the lessor under this and said three
preceding paragraphs are at all times
subject to and conditioned upon the
lessor obtaining the necessary authorization by vote of the people.
(16) Nothing in the four next preceding paragraphs shall be construed
to prevent the lessor from permitting
the lessee to erect a portion or all of
the structures provided for therein but
the terms and conditions of such authorization are left for future determination.
The Lessee's Covenants
(17) That it will accept the poses-
sion of the premises described in paragraph one (1) when the same shall
have been acquired by the lessor ana
the structures theeron, improvements
and fixed equipment described in paragraphs two (2) and three (3) shall
have been constructed, franchise referred to in paragraph five (5) obtained, and possession tendered by the
lessor, and the ferry installed and
service thereof inaugurated, and will
F= _-k_TIA/_FGri-|t__l=llyll=n_i-ir _r^F= i\j_r*~ri_r f= _T*IVI _OA_r_.l